So, before we move onto 2018 for good, let’s take one last look at our newest MMI report and recap some of the highlights:
- Our January MMI saw seven of 10 sub-indexes move upward, with two holding flat and one dropping (the Construction MMI fell by one point).
- The biggest winner of the month was the Stainless Steel MMI, which rose 9.2%. Skyrocketing LME nickel prices backed the jump. After hovering around $10,600/metric ton in October, nickel jumped near $13,000/mt last month, and continued to climb in the early days of 2018.
- The Copper and Aluminum MMIs also went up, by 3.5% and 3.2%, respectively.
- In the Global Precious MMI, palladium continues to outperform platinum, continuing a run that has bucked historical trends vis-a-vis the two platinum-group metals.
- The GOES MMI also had a good month, picking up seven points via a 3.8% increase. GOES typically does not follow the price patterns of other forms of steel, but it did this past month.
You can read about all of the aforementioned — and much more — by downloading the January MMI report below.